Gas generators, CNG/LPG dual fuel vehicles… 63 items exempted from VAT

Gas generators, CNG/LPG dual fuel vehicles… 63 items exempted from VAT

 The federal
government has exempted 63 items from value-added tax (VAT).

According to a post on X by Taiwo Oyedele, chairman of the
presidential committee on fiscal policy and tax reforms, on Friday, the
exempted items are contained in an official gazette for the ‘Value Added Tax
(Modification) Order, 2024,’ dated September 3, 2024.

On Wednesday, Wale Edun, minister of finance and
coordinating minister of the economy, announced the introduction of concessions
aimed at revitalising the oil and gas industry to ensure a boost in Nigeria’s
upstream and downstream sectors.

Edun unveiled two major fiscal incentives.

The incentives included VAT modification order 2024 and
notice of tax incentives for deep offshore oil and gas production, in
accordance with the Oil and Gas Companies (tax incentives, exemption,
remission, etc.) Order 2024.

In the official gazette, the federal government said the
provisions of “this order, as they relate to Automotive Gas Oil (AGO) shall be
deemed to have commenced on the 1st day of October, 2023”.

Here is a full list of the items exempted from VAT

  1. CNG/LPG
    Dual Fuel Vehicles
  2. Dedicated
    LPG Vehicles and CNG/LPG Dual Fuel Vehicles
  3. Parts,
    and semi-knocked down units (for assembly) of CNG and LPG Buse.
  4. Parts,
    and semi-knocked down units (for assembly) of Electric Vehicle
  5. Electric
    Vehicles
  6. Electric
    Vehicles Battery
  7. Electric
    Vehicles Charging System
  8. Electric
    Vehicle Solar Charging System
  9. LPG/CNG
    Conversion Kits
  10. CNG
    Cylinders.
  11. CNG
    Cascades
  12. CNG
    Dispensers
  13. Gas
    Generators
  14. CNG
    Trucks (Bobtails and Bridgers; fixed axle and semi-trailers
  15. Steel
    Pipes
  16. Steel
    Valves & Fittings
  17.  SS
    Tubes & Fittings
  18. Storage
    Tanks (all sizes)
  19. Regulators
  20. CNG
    Pumps and Compressors (all types)
  21. Steel
  22. Pressure
    Relief Valves
  23. Hydraulic
    press/Rolling machine
  24. Heat
    Treatment Equipment
  25. Liquid
    Level Guage
  26. Pumping
    Housing and Motors 
  27. Regulator
    Body
  28. Pressure
    Guage
  29. Truck
    Chassis
  30. Metering
    and Measuring Equipment (including weighbridges, filling scales)
  31. Dispensing
    equipment (dispensing scales, nozzles, gas filling systems)
  32. Safety
    Features (emergency shutoff valves, pressure relief valves, excess flow
    valves, breakaway couplings, quick release couplings)
  33. Gas
    water heaters
  34. Gas
    burners for industry 
  35. Gas
    boilers 
  36. Gas
    washing machines and dryers (launderettes) Household or laundry-type
    washing machines, including machines which both wash and dry.
  37. CNG,
    LPG and Cyrogenic Hoses Tubes, pipes and hoses, and fittings thereof (for
    example,joints, elbows, flanges) of plastics.
  38. CNG
    truck heads
  39. Gas
    Leak Detectors 
  40. Gas
    air conditioners
  41. Cylinder
    refurbishment equipment
  42. Blending
    skid/unit
  43. Odourizing
    unit
  44. Chromatography
    unit (GC)
  45. LNG
    Liquefying Equipment, Heat Exchangers,LNG Vapourizers, Regassification
    Plant, Liquefied CNG Compression Terminals
  46. LNG
    Plant, Machinery, Pumps, Compressors, Filters (Including Gas Filters),
    Weighing Machines, Valves Equipment 
  47. Cyrogenic
    Storage Tanks, Liquefied CNG Conversion tanks 
  48. Pipes,
    Piping Fittings, Flanges used for Liquefied Natural Gas processing 
  49. Electrical
    Equipment, including Cables for Liquefied Natural Gas processing 
  50. Stell
    Plates, Angles, Bars for Liquefied Natural Gas Processing
  51. LNG
    Related Chemicals 
  52. Biogas
    Digester 
  53. Biogas
    Compressor
  54. De-sulphurization
    units
  55.  Dryer 
  56. Distillation
    columns for processing biofuels 
  57. Bio-ethanol
    refinery equipment 
  58. Fermentation
    Tanks 
  59. Biofuel
    related Chemicals, Enzymes and Reagents
  60. Liquefied
    Petroleum Gas 
  61. Compressed
    Natural Gas 
  62. Feed
    Gas 
  63. Automotive
    gas oil

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